The article discusses several funding and acquisition events in the digital world over the last 30 days. Getir, a Turkish grocery delivery startup, ceased operations in Spain due to unsustainable cash flows and a focus on growth over profits. Colvin, a Spanish floral delivery startup, reduced its workforce by 40% and halted international expansion after projections were disrupted and it ran out of cash. Volava, a Spanish home fitness startup, entered bankruptcy proceedings after experiencing peak demand during the pandemic that did not continue afterwards. A Bitcoin "whale" transferred 1,037 BTC worth $31 million after not transacting for 11 years.
2. F** nEWs
What has caught our attention in the digital world over
the last 30 days - strategy, funding, start-ups, studies,
consumer, brand, advertising, and more….
"We hope you find it useful!"
Made with F**LOVE and a
few hours of care... because
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moment...
3. Link to the article
M&A- Investments/acquisitions
Getir pulls out of Spain
The Turkish D2C (Direct-to-Consumer) grocery delivery startup has announced that it is
ceasing operations in Spain.
This decision impacts 1,600 employees who were providing service from the well-known
"dark stores" to deliver essential purchases to customers within minutes.
What's the problem? It seems that it all comes down to cash
fl
ow. The model is not
sustainable on its own, and investors have decided to cut funding.
This is not a new scenario; we have seen similar cases in the sector, where companies were
solely focused on growth, neglecting the "bottom line," and operating with unhealthy
business models.
https://sifted.eu/articles/getir-prepares-to-exit-spain-news?
4. Colvin hits the brakes, but
secures an additional €6 M
Link to the article
The D2C startup focused on the
fl
oral sector (a competitor to the well-known Floraqueen) has
announced a change of strategy.
The growth projections have been disrupted - the business's evolution cannot support them, leading to a
40% workforce reduction and a halt in international expansion.
Essentially, they've run out of cash; the business relies on external cash injections, and investors want to
see results to continue their con
fi
dence in the company.
With this change, they hope to achieve positive results by 2025 and, in the meantime, they had to resort
to a convertible loan (something that is becoming common when expectations are not met, and there is
a cash shortage)... In 2021, they generated €10.4 million in revenue but incurred losses of €14.5 million!
(2023: they expect to close with €15 million in revenue).
M&A- Investments/acquisitions
https://www.lavanguardia.com/economia/20230706/9090375/colvin-repliega-estructura-
consigue-6-millones-euros.html
5. Link to the article
M&A- Investments/acquisitions
Volava enters into voluntary
bankruptcy proceedings
The 'home
fi
tness' startup is not going through one of its best moments, to say the least, it's at a critical
point in its existence.
The Barcelona-based company experienced its peak during the pandemic when it became a real frenzy
to get hold of any device that allowed us to continue exercising at home during the lockdown.
However, their business model didn't quite work out after the pandemic, which, combined with
excessive optimism about the company's growth, a rush to expand quickly, and the sudden
discouragement of investors who were previously eager to support Volava's rapid growth, has led the
start-up to this situation.
Exactly! In conclusion, be realistic about the evolution of your business, avoid overestimating its
potential, be patient, focus on consolidation, and most importantly, carefully choose your partners and
investors to ensure a successful journey.
https://www.2playbook.com/
fi
tness/volava-entra-en-concurso-acreedores-posponer-su-
ultima-ampliacion-capital_12711_102.html
6. https://www.businessinsider.es/ballena-despierta-11-anos-trans
fi
ere-1037-bitcoins-1281314?
Link to the article
M&A- Investments/acquisitions
A Bitcoin whale awakens
after 11 years
The term "whale" is used in the cryptocurrency world to refer to those large buyers/holders of
cryptocurrencies.
In other words, while everyone can engage in buying and selling cryptocurrencies, the reality is that 40%
of the transactions are carried out by these so-called whales.
In this speci
fi
c case, it was a whale that made its last transaction eleven years ago, purchasing 1,037.42
BTC, which were worth $5,107 USD at the time. Today, upon transferring the coins, their value has
surged to $31 million USD.
This is a rare occurrence since whales typically operate in the short term, playing with large volumes
during market peaks and valleys.
7. Strategy
Link to the article
Connecting with the new
generations
Interesting report, a re
fl
ection by Wunderman Thompson, that analyzes the new applications
that are "hooking" Generation Z.
These apps stand out for trying to convey possibility and promote connectivity.
Furthermore, a need for "specialization" emerges in order to gain relevance.
Among them, Geneva, Lex, Diem, Somewhere Good, and Melon are highlighted.
https://www.wundermanthompson.com/insight/gen-zs-community-apps?
8. Strategy
Link to the article
The sports sector must consider
the online environment, without a
doubt
One-third (33%) of online shoppers buy sports products through the internet, with women being
the ones who clearly prefer this channel.
However, the challenge lies in the average purchase value, with an average of 82€ per transaction,
but 51% of transactions still falling below 51€.
The main driver for online purchases is none other than the price, which is a clear handicap for
companies, as it pushes them towards pricing-based positioning and value proposition strategies,
which is a losing strategy in the medium term.
However, the emerging trend and the great challenge is the hybrid purchase - omnichannel, with
63% of shoppers stating that they already use it. This can be a clear lever to move beyond price-
only strategies in the online environment.
https://www.di
ff
usionsport.com/un-tercio-de-los-eshoppers-compra-deporte-online-67731
9. Strategy
Hispanics are the ones showing the
most interest in sustainability
Link to the article
32% of Hispanics (Spain + Latin America) say they are concerned about sustainability
regarding the brands and products they interact with or buy. This
fi
gure is 5% higher than in
the United Kingdom and the United States.
Generation Z and Millennials are the ones who show the most concern about environmental
impact.
44% of consumers state that they have a preference for purchasing from brands that have a
genuine commitment to sustainability.
https://euro.eseuro.com/business/538091.html
10. Strategy
Link to the article
Digital transformation
according to BCG
BCG - Boston Consulting Group presents its methodology for approaching digital
transformation.
According to BCG, only 30% of companies that start a digital transformation process are able
to successfully complete it (70% fail).
For BCG, the key is to make transformations incremental, aligned with the company's real
capacity (talent and
fi
nancial resources), and above all, sustainable (avoiding short-term
fi
reworks).
To achieve this, it is crucial for the process to be TOP-DOWN, with full support from top
management.
https://www.bcg.com/capabilities/digital-technology-data/digital-transformation/overview
11. Strategy
Link to the article
Rabat suffers a hacker
attack
You don't have to be a super tech company to be the target of hackers... you simply need to
have something they believe could be of interest to them.
And that's what happened to the famous Catalan jewelry store, which su
ff
ered a hacker
attack to obtain data from its "premium clients."
The attack, which also a
ff
ected 14 other companies such as Seguros Galilea, Fundación Sant
Francisco de Asís, Comsa, Indira, Auto88, Mr Wonderful,... was carried out by the
organization Spartan (Cyber Spetsnatz- a Russian organization).
It is estimated that data from 10,000 customers of the jewelry store was accessed.
https://www.merca2.es/2023/07/07/rabat-hackers-rusos-1364426/
12. Strategy
Link to the article
The Spanish people are betting
on social search engines
More than 70% of Spanish users claim to use social search engines to stay informed.
This is happening because the sources of information for consumers are changing - the
fi
gure of
"In
fl
uencers" emerges, whose natural environment is social media, so it is logical that this
dynamic exists.
It is also relevant that the attitude is basically that of an observer, as only 22% of users generate
content, compared to 78% who consume it.
The top 3 social media platforms in this trend are, in order of relevance: Instagram, YouTube, and
TikTok.
https://www.marketingdirecto.com/actualidad/checklists/espanoles-utilizan-buscadores-redes-
sociales
13. Generative AI
Link to the article
AI can generate a productive
benefit of between 2.6-4.4 trillion
USD
According to a recent McKinsey study, the main areas of the company where Generative AI
can make a di
ff
erence are: Customer relations, marketing and sales, and research and
development.
Sector-wise, it stands out in the banking sector, technology companies, and those focused on
biotechnological sciences.
However, for Generative AI to have a real impact, it requires investment in helping employees
evolve (upskilling) and adapting their job roles to the new reality.
https://www.mckinsey.com/capabilities/mckinsey-digital/our-insights/the-economic-
potential-of-generative-ai-the-next-productivity-frontier?
14. Generative AI
The European countries with the
most startups in the AI environment
Link to the article
It appears that Estonia and Switzerland have the highest number of AI startups per million
inhabitants.
On the other hand, France stands out in terms of funding, being the country with the highest
fi
nancing per startup, with Distal's 105 million euros seed round having a signi
fi
cant impact.
In terms of total volume, larger countries like the UK, Germany, and France are at the forefront
of AI startups.
However, the southern European countries, including Portugal, Spain, Italy, and Greece, seem
to have a scarcity of companies focusing on Generative AI.
https://sifted.eu/articles/which-european-countries-have-the-most-ai-startups?
15. Generative AI
Google is making a strong
impact in the field of
Generative AI
Link to the article
Naturally, Google doesn't want to be left behind in the race for Generative AI (all big players
have ongoing projects in this
fi
eld).
They have just announced their project GENESIS, which they have already made available
to the media group News Corp. (New York Times, Washington Post, Wall Street Journal),
aimed at assisting media outlets in creating content automatically.
GENESIS can gather current information and write headlines, articles, etc., but it's
designed as an "assistant" for journalists rather than a replacement for their job.
https://www.theguardian.com/technology/2023/jul/20/google-testing-ai-tool-that-
writes-news-articles?
16. Generative AI
Link to the article
LinkedIn is working on a
personal assistant
It appears that LinkedIn is working on a generative AI-based virtual assistant focused on
helping users with job search.
The assistant will be able to provide advice on job opportunities that best match our pro
fi
le,
suggest skills to develop, recommend suitable training, provide insights about the
companies o
ff
ering these job opportunities, and even help us create a dynamic career plan
and guide us throughout the process.
Currently, it is an internal project under development, but we can expect to see progress
soon. As Bill Gates had previously mentioned, the future of generative AI lies in personal
assistants.
https://www.theverge.com/2023/7/27/23810141/linkedin-coach-ai-assistant-
chatbot-leak
17. Generative AI
Link to the article
Microsoft allies with Meta to
target Google
Arch-enemies plotting conspiracy plans to attack another enemy? This could be part of a superhero
movie plot... but no, it's just how the big players in the generative AI world are moving in the
technology landscape.
Proof that Generative AI is by no means an "easy business," both in terms of knowledge and the
need for
fi
nancial resources.
Microsoft has been seriously investing in AI for some time, with its research lab and partnership with
OpenAI, and has been working on its own AI language.
Now, Azure customers will have access to Meta's language, which has been optimized to work with
Windows, and they will also be able to download LlaMA (the name of Meta's language) on their PCs.
https://www.xataka.com/robotica-e-ia/microsoft-consuma-su-jugada-de
fi
nitiva-
google-se-asocia-meta-para-llevar-llama-2-a-windows-azure?
18. New business models
https://www.statista.com/chart/26773/pro
fi
tability-development-of-spotify/
https://www.linkedin.com/posts/christianpalau_spotify-sigue-creciendo-en-usuarios-pero-
activity-7089918168529297409-PBZa?
Spotify is unable to get out of
the slump... the solution, raise
prices
Spotify is one of the leaders in on-demand music streaming services, but its business model has not fully
stabilized, and its
fi
nancial results resemble a rollercoaster ride.
Despite the numbers of new subscribers growing at an impressive pace, reaching 220 million paying users in
the second quarter of 2023, the
fi
nancial
fi
gures are not aligning well. During this same Q2'23, the company
has closed with the second-highest loss period in its history, amounting to 302 million euros.
The company, to minimize the impact, has decided to implement the
fi
rst price increase in its history, with a
10% increment. However, the real problem lies deeper in the business model within the music industry, with
royalties paid to record companies (which, by the way, some of the most signi
fi
cant ones are shareholders of
Spotify). These royalties make the business unviable unless astronomical user numbers are achieved. Spotify
aims to reach 1 billion users by 2030 as part of its strategy.
Link to the article
19. Monthly report
“The Creators Economy”
Battle
Link to the article
Interesting report by SACRA, which analyzes the battle among di
ff
erent players: Mailchimp, ConvertKit,
Substack, Ilodesk, Beehiiv, to become the leading solutions in the known "Creators Economy."
In other words, we are talking about email marketing software, customer
fl
ow generation, E-commerce
experience solutions, design, content creation, and more.
In essence, we are talking about a whole universe of solutions that workers in the new economy have
at their disposal to build value propositions in an easy and intuitive way.
https://sacra.com/research/convertkit-vs-beehiiv-vs-substack/
20. Monthly report
Link to the article
Essentials of digital
transformation
This July, we had the pleasure, as The Brain Mixers, of conducting a training session in
collaboration with The Valley Digital Business School, introducing the key aspects of
digital transformation within the company.
One of the aspects that we always try to reinforce during these sessions is to break the
paradigm that digital transformation is only about technology. It is far from being solely
that; it is a comprehensive process in which, without considering culture and people, it is
doomed to failure.
The technology can never be the end... but a means to drive evolution
https://www.thebrainmixers.com/single-post/claves-de-la-
transformaci%C3%B3n-digital
https://www.slideshare.net/christianp/claves-transformacion-digital-en-la-empresapublicojul23pdf
21. Start-up’s
Link to the article
Temu, the new Chinese player
in the e-commerce industry
Perhaps its name may not be as well-known as Aliexpress, Tik Tok, Shein, but Temu is the
new Chinese giant that is making a strong entry into Europe.
The e-commerce app is already the most downloaded application in Spain.
What is Temu? It's a low-cost marketplace where we can
fi
nd products of questionable
quality but at incredibly low prices, with discounts of up to 90%.
However, we have to consider the delivery times, which can range from 8 to 36 days, and also
what may be behind these super low prices - potential compromises in quality and working
conditions in production.
https://marketing4ecommerce.net/temu-ya-es-la-app-mas-descargada-de-espana-luces-
y-sombras-del-exito-del-nuevo-marketplace-low-cost/
22. https://www.springwise.com/innovation/health-wellbeing/educating-gen-z-on-health-
issues-through-tiktok/
Training
Health education through
TikTok
Link to the article
The fact that the new generation, known as Gen Z, are avid users of TikTok is an
undeniable truth.
Thus, the University of Warnick and Doctor James Gill have decided to launch #DocTok,
aiming to become a "veri
fi
ed" health channel on the social media platform.
Through this channel, they will provide information and content on various health topics
relevant to this generation.
The goal is to help them make informed decisions by communicating with them on their
channels and in the communicative tone that resonates with them.
23. The monthly campaign
Link to the article
Chimo Bayo adds music to La
Fallera
This is perhaps one of the most surreal campaigns we've seen in recent years. The rice brand La
Fallera has decided to make a splash this summer, a time when paellas are traditionally prepared :-)
To do so, they have teamed up with the legendary "Chimo Bayo" to create what they call the anthem of
paella, which, for those who remember, takes us back to the era of the "ruta del bacalao" with a touch
of local
fl
air.
Beyond artistic or creative criteria, it is evident that this message, creativity, and communication style
do not align at all with the branding of the advertiser. It serves as a clear example of making noise just
for the sake of it, without considering strategic
fi
t and brand positioning... in other words, the mentality
of "any publicity is good publicity."
https://lapublicidad.net/chimo-bayo-crea-el-himno-de-la-paella-para-la-fallera/
https://www.youtube.com/watch?v=ggnRZnt_Jrw
24. The monthly campaign
Pocholo starring in the
SsanYong campaign
Link to the article
Pocholo Martínez-Bordiú, the former "celebrity" and part of the media “Spanish Beautiful People,"
known more for his scandals and excesses, stars in this new campaign for the Korean vehicle
manufacturer.
The truth is that the campaign is hard to understand... They present Pocholo as a well-mannered,
hardworking man, which clashes with the party-goer image we all have of him.
Yes, the campaign plays with contrast... and suggests that it is the ability to enjoy the vehicle that
makes him this way,... but it lacks humor, is slow-paced, and lacks credibility.
This is just another example that advertising is not about putting a "celebrity" next to your product, but
rather building a solid, believable, and consistent storytelling.
https://www.reasonwhy.es/actualidad/pocholo-trabajador-protagoniza-nueva-campana-ssangyong
25. The monthly campaign
Bulgari is taking the leap into
augmented reality
Link to the article
Hand in hand with Snapchat (curious when talking about the decline of this social network),
Bulgari launches a campaign to celebrate the 75th anniversary of its Serpenti collection.
Through the application, users can decorate their surroundings with the typical golden scales
of the jewelry brand's reptiles.
Likewise, users can simulate how di
ff
erent pieces of jewelry from the collection look on their
necks and faces.
https://www.modaes.com/look/bulgari-se-suma-a-la-realidad-aumentada
26. Curiosities
Link to the article
McDonald's offers banquets
for weddings
Although it may sound surreal, it's 100% true! McDonald's in Indonesia has launched a new
service of o
ff
ering wedding banquets.
Under the slogan "Let's make your wedding moment more memorable with the Wedding Mekdi
package!" they o
ff
er 100 hamburgers and 100 packs of nuggets for approximately 230 USD.
Additionally, they o
ff
er the option to add other food choices and even have a McDonald's food
booth at the wedding.
This is not the
fi
rst time McDonald's has launched a similar initiative. They did it a few years ago in
Hong Kong, where they even o
ff
ered a wedding cake made of apple pies and the option to
celebrate the banquet in one of their restaurants.
https://www.reasonwhy.es/actualidad/mcdonalds-indonesia-menu-bodas-hamburguesas-nuggets